Payout: Court Finds IMF Chief Christine Lagarde Guilty

Managing Director of the International Monetary Fund (IMF), Ms Christine Lagarde, has been found guilty by a French court of negligence in the approval of an award of €404m to a controversial French business tycoon, Mr Bernard Tapie, for the sale of a firm.

Though Ms Lagarde told the court on Friday that she had always acted in good faith, but the judges were not convinced enough.

However, the court did not hand down any punishment to the IMF chief, but held that she allowed the misuse of public funds.

Reacting to the ruling, Ms Lagarde, 60, said she was satisfied with the judgement, but would not appeal against it, pointing out that she would rather “move on and continue to work” with those trust her.

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